If you are considering expanding your property portfolio, there a plenty of reasons why a new build could be a great option. Here are just some of them:
Versatile
Unlike older properties, new homes are typically more versatile when considering renting. New build properties are typically designed to suit a range of potential buyers, meaning they often come with a neutral colour palette and layout that suits a range of demographics.
Adding a new build to your portfolio is an attractive proposition as it will be appealing to renters who are wanting to add their own touch to the home. It also works well if you choose to sell later down the line as there won’t be any bold design choices that may put off future buyers.
Convenient
If ease of purchase and convenience is something you’re looking for then a new build could be perfect. Unlike older properties, there is no chain involved in buying a new build and so the whole process is likely to be much quicker.
This also means that you can arrange tenants before you even begin paying for the property, as it is able to be moved in to straight away and won’t require any renovations.
Customisable
Dependent on what stage the build of the property is at, many new builds offer various elements of personalisation. This can include kitchen design, carpet choice, and upgrading of white goods. This is ideal for renting as it means you can make considered choices so that the home is tailored to the requirements of a rented property.
Lower maintenance
As the house is newly built, there should be far less maintenance required. As with any house, there may be snagging involved when a tenant first moves in but besides that, it should be relatively low maintenance after that.
This is ideal if you don’t have time to frequently visit the property, or if you are investing in a property in a different country.
Many new builds are also supported by a long warranty, meaning that any repairs required in the first 5-10 years are often fixed free of charge by the developer. This is particularly useful if you don’t plan on keeping the property in your portfolio for a considerable amount of time.
More sustainable
As the importance of sustainability becomes more prevalent in all industries, many new build developers have taken this on board. New build homes are often now more sustainable than period properties as they have been built with energy-efficient building materials and are fitted with the latest appliances which typically have better energy ratings than older models.